The power equipment supplier BHEL announced that it has paid Rs 298 crore to the government as an interin dividend for the fiscal 2007-08.

Mr. K Ravi Kumar, BHEL Chairman and Managing Director said that the company paid a total interim dividend of Rs 441 crore, out of which 90% of its improved equity capital post-bonus paid to its stockholders in FY08.

He presented a cheque of Rs 298 crore to the Heavy Industries Minister Mr Santosh Mohan Deb today. The government owns 67.72 per cent equity in the firm.

BHEL recorded a net profit of Rs 1,749 crore in the first nine months of 2007-08, a 38 per cent growth over the corresponding period previous year. The company has enhanced its capacity to 10,000 MW and aims to further augmenting it to 15,000 MW by December 2012.

The company has framed up a ‘Strategic Plan 2012’ in order to ensure sustainable profitable growth over the next five years with the aim of achieving an income level of Rs. 45,000 crore by 2011-12.